When Treasury Secretary Henry Paulson asked Congress for $700 billion for distressed assets, the Democrats in Congress jumped with glee at the opportunity to expand government farther into the private sector, and ultimately into our individual lives. As far as Pelosi, and friends, are concerned, any intrusive, big government plan or program is good to them. Unfortunately, George W. Bush joined them in the approval of a massive socialist push into the American Economy, and ultimately, the nationalization of the Mortgage Industry.
The Democrats were excited about the opportunity to stick more government into your lives because they believe it is government’s obligation to “do for you.” They are like a nanny running around with giant pillows in their hands ready to throw them under your butt when you are ready to fall – unfortunately, in order to do that, your individual freedoms must be compromised, and the Capitalism that has made this nation so prosperous must be placed six feet under.
George W. Bush, though more reluctant in approving the bailout, used different reasoning than his liberal counterparts. His core belief system is not one of government control, I don’t believe, though he has proven not to be a fiscal conservative as evidenced by his ability to spend more than a drunken Democrat during the last eight years. His reasoning for the bailout, however, was coupled with the thought that without it, the economy would falter – AND – it would open up an opportunity to worldwide cooperation on an economic level. That’s right, Dubya did it for reasons akin to Globalism.
Now that the Congressional Democrats have experienced bailout fever, they desire to provide bailouts for everyone. The American Auto Industry, guilty of falling behind because they produce inferior products, is slated for a bailout. Credit companies are poised for assistance as well (so go out to dinner and charge it on the credit card! You may not have to pay the bill after all!). Even struggling cities like Atlanta and Philadelphia, all manned by left-of-center leadership, are begging for a piece of the bailout pie as well.
What is the lesson?
I guess it is okay to live beyond your means and finance your life up to your eyeballs – after all, if you can’t pay for what you promised to pay for, the government will come along and bail you out too. As for you folks that did the right thing and budgeted and did not over-extend your credit? Sorry, you are out of luck – dig deep into your pockets and pay your taxes so that all of the screw-ups can get a check from the government!
Now, I know on the surface many of you are ready to say that a bad economy is to blame for the perceived need of such a Marxist strategy. A roughed up economy, coupled with decreased consumer spending, I agree, played no small role. But, the real culprit across the board is bad management – in the industries affected, and in the government’s handling of regulatory intrusion, as well as the governmental demand to offer credit to folks that had no business getting it in the first place.
Capitalism is self adjusting. Over regulating (I didn’t say to strip all regulations, by the way, for those of you who think that de-regulation caused the problems) stifles the growth of business. Business growth needs to be encouraged, not punished with increased business taxes, increased capital gains taxes, and the existence of any estate taxes. Individual drive for success and business growth is what moves an economy, not government checks.
And before you proclaim that Barack Obama is above any notions of bailouts, remember that he wants to provide the ultimate bailout to the entire world in the form of his Global Poverty Bill which would redistribute the wealth from the ashamedly wealthy United States to the rest of the poor world in nations where they have refused to embrace the Capitalism that has made this nation prosperous in the first place.
If a progressive taxation against the successful, and redistributing such monies down to the “less fortunate” is such a great idea, then how come it has failed every time it has been attempted?
Change? The Liberal Left’s plans are nothing new. They are only a re-try of old, worn-out, failed policies that has sent us into recessions each time they were tried; and has destroyed other nations when they attempted to use such Marxist ideals.